Neutral Citation No. - 2025:AHC:11819-DB Court No. - 39 Case :- WRIT - C No. - 1038 of 2025 Petitioner :- M/S Rameshwar Technical Skills Private Iti Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Sanjay Kumar Singh Counsel for Respondent :- Amrish Sahai,C.S.C. Hon'ble Siddhartha Varma,J. Hon'ble Dr. Yogendra Kumar Srivastava,J. 1. Heard Shri Sanjay Kumar Singh, learned counsel for the petitioner; Shri Amrish Sahai, learned counsel appearing for the Bank and learned Standing Counsel. 2. The instant writ petition has been filed for the following reliefs:- "i. Issue a writ, order or direction in the nature of certiorari quashing the impugned Sale Notice dated 13.12.2024 Rule-6 (2) & Rule-(8) of the SARFAESI Act, 2002 issued by the Respondent No.4 against the petitioner. ii. Issue a writ, order or direction in the nature of mandamus direct the respondent No.4 to deposit the entire loan amount of Rs. 49,92,709.00/-, in easy installment during the pendency of the writ petition ." 3. It is stated that the petitioner had taken a loan but the same could not be repaid as per the terms of the agreement. A recovery certificate for a sum of Rs. 49,92,709.00/- and other expenses had been issued against the petitioner. This writ petition has been filed with the averment that petitioner is ready and willing to deposit the amount, in case he is permitted to do so in easy installments. 4. At the very outset learned counsel for the petitioner has proposed to deposit 25% of the outstanding amount within a period of ten days from today with an undertaking that the remaining amount shall be paid in next four equal monthly installments. 5. Shri Amrish Sahai, learned counsel appearing for the respondents no. 3 states that the Bank is ready to accept the amount. He, however, states that the Bank has no objection if the borrower is willing to clear the debt by paying 25% of the outstanding amount within a period of ten days from today and remaining amount in next four equal monthly installments. It has been informed by learned counsel for the Bank that auction was to take place on 22.01.2025, however, the auction could not take place on that date and there is also no further notice with regard to the auction. 6. In view of the above stand of the learned counsel for the parties, at this stage, without looking into the merits of the case, we deem it appropriate to afford an opportunity to the borrower to clear the debt by paying 25% of the outstanding amount within a period of ten days from today, and the remaining amount in next four equal monthly installments. The outstanding debt be directed to be paid with up-to-date interest. 7. Needless to say that when the last installment is paid by the petitioner, the bank shall inform the petitioner the interest amount and the other expenses which would have accrued by the last date of payment and it shall be paid along with the last installment. 8. We clarify that, if, the amount as has been promised to be paid by the petitioner is not deposited as per the undertaking then the Bank shall be free to recover the debt pursuant to the impugned notice in accordance with law. 9. With these observations the writ petition is disposed of. Order Date :- 23.1.2025 Karan (Dr. Y.K. Srivastava, J.) (Siddhartha Varma, J.) Digitally signed by :- KARAN KUMAR RAO High Court of Judicature at Allahabad